DHAKA, June 15 (Xinhua) -- The May reading of the Purchasing Managers' Index (PMI) in Bangladesh advanced six points from the previous month to record a faster expansion rate at 58.9.
The reading was attributed to a faster rate of expansion posted by the sectors of agriculture, manufacturing, and services, whereas the construction sector posted no change, according to the Metropolitan Chamber of Commerce and Industry and Policy Exchange Bangladesh on Sunday.
The latest reading indicated that the overall economy grew at a faster rate, riding on the export-led manufacturing buoyancy and uptake in agriculture and its supply chain ahead of Eid festival. Construction sector remained the only sector without any growth in expansion, said M Masrur Reaz, chairman and chief executive officer of Policy Exchange Bangladesh.
A PMI reading above 50 indicates growth, while one below 50 points to a contraction.
The two departments began publishing the PMI in January last year. It covers over 500 private sector firms across agriculture, manufacturing, construction and services. ■
